The Verisite line of products represents a new, more efficient way for lenders and portfolio servicers to receive property inspections and collateral valuation data. Utilizing cutting edge mobile technology for to-the-moment property detail, combined with historical property data. Verisite provides lenders with current and comprehensive property inspections for faster and economical lending decisions.
Available products are the Verisite Photo Report, the Verisite Collateral Data report and the Verisite Plus report, which combines both products into one single report.
Verisite products can be used on loans and sub-loan products that do not require a full appraisal, reports, such as home equity loans, disaster relief inspections, new construction progress, portfolio reviews and more! Lenders can achieve super performance during the inspection process that is instantaneous once the photo agent uploads the photographs through our secure mobile app.
Verisite Photo Report
The Verisite Photo Report allows you to receive a current interior and exterior site photos with descriptions and maps instantly. You can pick and choose which pictures and descriptions you want,then order them, then approve and generate the Verisite Photo Report. The result? An instant, current picture of the property.
Our Verisite app for smart phones allows you to deliver a link to your borrower, appraiser, inspector, loan assistant, realtor, etc., you can instantly get all the property data you may need to make better lending decisions and evaluate your portfolio in a declared natural disaster area and is also ideal for construction loans that are dependent upon certain milestones to release the next payment cycle.
Verisite Photo Report
Includes Specific photos and details for the subject property. Photos can only be uploaded thru the Verisite app and are time stamped and geo located by satellites. The photo agent's attestation is provided with comments on condition of the subject property.
The Verisite suite of products are:
Ideal for construction milestones delivered within minutes once the photo agent submits the photographs to our secure online report.
Supports servicing company’s and portfolio lenders the ability to quickly assess their assets in a declared disaster area.
Assist reverse mortgage portfolio lenders to monitor the exterior condition of the property per FHA guidelines.
Combines a Verisite Site Inspection report with a collateral data report into a single,
complete, powerful property inspection report and market data with risk analysis detail for driving decisioning on alternative valuation needs.
Verisite Plus utilizes the to-the-moment benefit of the Verisite Photo Report to provide the most current property detail available and joins it with the Collateral Data report to give lenders historical data from public records, deed transfers, plus an analytical value.
This provides a complete picture of the property. Also, lenders and servicing companies are provided the top 20 recently sold nearby properties starting from the date Verisite was ordered going backward.
The Verisite Plus Report Includes:
Includes specific photos and details for the subject property. Photos can only be uploaded thru the Verisite app and are time stamped and geo located by satellites. A photo agent attestation is provided with comments on the condition of the subject photograph.
The Collateral Data Report:
Comprised of 3 Scores and an AVM Value. Scores are determined using proprietary algorithms that make calculations using various weightings to provide the most accurate assessment scores for the property. Tabs across the header of the report allow you to move around between different sections of the report.
Subject Risk Score
Assigns score using collected data for property transfers, refinance activity and other specific data in relation to the subject property and its immediate, surrounding market area.
Market Risk Score
Incorporates multiple factors for the subject property’s immediate market area, factors such as delinquency, default and foreclosure activity to determine unstable market areas.
Collateral Integrity Score
Summarizes the overall risk with the property and the market area and combines that data into one single score.
View a sample report click here